Influencers as Marketing full-funnel

In 2023, Influencer Marketing reigns supreme as a potent tool for eCommerce businesses.

It hinges on the ever-increasing reliance consumers place on the recommendations of social influencers during their buying journey. 

As British polls indicate, 77% of online shoppers consistently read reviews before making a purchase: https://www.brightlocal.com/research/local-consumer-review-survey/

Leveraging the sway of these individuals empowers online stores to bolster brand recognition, build trust and credibility, and ultimately foster conversions and loyalty among their target audience. 

As Jeff Bezos wisely said, “In the old world, you devoted 30% of your time to building a great service and 70% of your time to shouting about it. In the new world, that inverts.”

Let’s dissect the marketing funnel step by step:

Top-of-funnel: The awareness stage

Middle-of-funnel: The consideration stage

Bottom-of-funnel: The conversion stage

Bonus: The loyalty stage

A. The Awareness stage: 

Collaborate with influencers boasting a substantial follower count to promote your brand and products. Deploy influencer-generated content, such as photos and videos, to showcase your products on their social media accounts. Engage in consistent communication campaigns for new product launches, important annual events, and more to expand your brand’s visibility among a larger audience. 

As HubSpot’s CEO, Brian Halligan, said, “In the attention economy, brands should not be storytellers but story builders.”

What does top-of-funnel marketing aim for, and how is it measured? 

At the top of the funnel (TOFU), boosting brand visibility is your primary target.

How to measure progress? That’s where key performance indicators (KPIs) step in:

• Impressions: How many times was your content shown to your audience? 
• Reach: How many individuals saw your content? 
• Engagement: How many likes, comments, and shares did your content gather? 

For successful TOFU marketing, buying commitment is optional. The goal is to spark interest in your brand.

B. The consideration stage: 

Work with influencers who demonstrate high engagement (numerous likes and comments) and a target audience similar to your online store’s consumer base to enhance credibility. Encourage influencers to create product reviews or tutorials, showcasing your offerings and demonstrating their value to potential buyers. Host giveaways or contests with influencers to prompt their followers to consider your brand and products.

What does middle-of-funnel marketing aim for, and how is it measured? 

In the middle of the funnel (MOFU), influencers nurture relationships with potential customers. 

Through informative content, prompt responses to inquiries, and showcasing your product or service’s value, they help guide the customer journey. 

Monitor metrics like click-through rates, dwell time on your website, and lead generation at this stage.

C. The conversion stage: 

Provide influencers with unique discount codes or affiliate links, offering their followers incentives to purchase. Collaborate with influencers to create limited-edition product lines or collections tailored to their audience, highlighting opportunity and exclusivity. Incorporate influencer reviews and user-generated content on your website and social networks to boost audience trust and promote conversions. 

As the old saying goes, “Trust is the most important currency in eCommerce.”

Leveraging influencer marketing to accomplish your bottom-of-funnel objectives: The core objective of most bottom-of-the-funnel (BOFU) initiatives is to spur sales. At this juncture, most of your prospective customers are well-versed with your brand, understand the value of your products or services, and are on the brink of decision-making.

This is the moment to present compellingB. What does middle-of-funnel marketing aim for, and how is it measured? 

In the middle of the funnel (MOFU), influencers nurture relationships with potential customers. 

Through informative content, prompt responses to inquiries, and showcasing your product or service’s value, they help guide the customer journey. 

Monitor metrics like click-through rates, dwell time on your website, and lead generation at this stage.calls to action and witness your sales surge. Since BOFU prospects are familiar with your brand, the focus shifts from sparking interest to facilitating purchase decisions.

What’s the end game of bottom-of-funnel marketing, and how is it evaluated?

When your consumers are at the funnel’s base, your primary target is to heighten conversions. Depending on your offering, conversions could span outright purchases, free trial enrollments, or subscriptions. You can use a variety of conversion tactics, providing your audience with multiple avenues to pledge their commitment to your brand.

In strategising your BOFU influencer marketing moves, you must account for the user experience your creators render and strive to simplify the conversion process for consumers. Fortunately, social media platforms like Instagram offer features like “swipe-ups” to encourage consumer action.

How do I gauge the success of bottom-of-funnel marketing?

Consider creating affiliate links or discount codes, tags, and trackable landing pages to capture precise conversion metrics. This will help you monitor the sales each creator drives and evaluate their contribution towards achieving your objectives.

D. The Loyalty stage: 

Continue collaborating with influencers to keep your brand in the public eye and encourage repeat purchases! 

To encourage long-term loyalty, offer exclusive perks or benefits to your influencer partners, such as early access to new products or personalised discounts. Foster relationships with influencers beyond social networks, like brand ambassador programs or co-creation of products, to deepen the bond and cultivate more brand advocates.

One nugget of advice I’d give fledgling online stores (2-3 years old) is to explore their consumer base for influencers and celebrities who have already made purchases. 

This organic, relatively inexpensive approach leverages an existing relationship between the store and the influencer. From our team’s experience after running thousands of online campaigns, influencers who have already purchased products or services are more open to working with that business, and budgets will be friendlier. 

Seth Godin once said, “People do not buy goods and services. They buy relations, stories and magic.”

MOCAPP offers a dedicated tool for discovering these Popular Shoppers, and you can test it here for free: https://mocapp.net/link

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Influencer Marketing will be paramount for eCommerce businesses in 2023.

Partnering with content creators and influencers allows online stores to increase visibility, build trust, and foster conversions and loyalty at every marketing funnel stage.

As social networks continue to flourish, the role of influencers and content creators in promoting and branding businesses will be bigger, year after year.